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Affordable Housing in Hayden, Idaho: Three Decades of LIHTC Projects
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Hayden, Idaho, has a specific landscape of Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The city contains 111 affordable housing units, with 97 designated as low-income units. This inventory addresses a portion of the community's housing needs. The LIHTC funded affordable housing represents approximately 1.37% of Hayden's total housing stock, estimated at 8,093 units. This percentage indicates that LIHTC funded projects contribute to the city's affordable housing supply, although other programs may also exist to address affordable housing requirements. Hayden has received $488,985 in project tax credits through the LIHTC program. With approximately three projects, this equates to an average of $162,995 in federal funding per project. When considering the total units, the average federal funding amounts to $4,405 per unit.
The city holds 0.61% of the total state LIHTC funding, indicating its relative position in affordable housing development within Idaho. The first LIHTC project in Hayden, Sarah Street, was completed in 1993, while the most recent project, Hayden Crossing, was finished in 2003. This span demonstrates a decade of affordable housing development in the city.
The 2000s saw the most affordable housing activity, with two projects completed: Hayden Country Ridge in 2001 and Hayden Crossing in 2003.
The affordable housing inventory in Hayden consists of 57 one-bedroom units, 45 two-bedroom units, and 9 three-bedroom units. This distribution caters to various household sizes and needs within the low-income population.
Over the last decade, Hayden has experienced steady population growth, increasing from 17,987 in 2017 to 21,122 in 2022. The median income has also shown an overall upward trend, rising from $67,164 in 2017 to $72,621 in 2022, with some fluctuations in between.
The racial composition of Hayden has remained relatively stable, with a slight decrease in the white population from 94% in 2019 to 91% in 2022. There has been a small increase in the Hispanic population, growing from 1% in 2019 to 5% in 2022. The population identifying as two or more races has also seen a slight increase from 2% to 4% during this period.
No new LIHTC projects have been reported in the last decade. This could be due to various factors, including changes in housing needs, availability of other affordable housing programs, or shifts in local housing policies.
Hayden's LIHTC funded affordable housing inventory provides an important contribution to the city's housing landscape. The 111 units, with 97 designated as low-income, represent about 1.37% of the estimated housing stock. The city has seen three LIHTC projects developed over a decade, with the most recent completed in 2003. Despite the lack of new LIHTC projects in recent years, the city has experienced population growth and a general increase in median income. These demographic shifts, along with the existing affordable housing stock, may influence future affordable housing strategies in Hayden.
